SoFi Technologies (SOFI) Shares Surge 20% Following Q4 Results

SoFi Technologies (NASDAQ: SOFI) shares were trading around 20% higher after-hours following the company’s reported Q4 results, with EPS of ($0.15) coming in better than the consensus estimate of ($0.17).

The company achieved a record quarterly revenue of $286 million (vs. Street’s $280.44 million) even with the unexpected extension of the federal student loan payment moratorium in late December.

According to Anthony Noto, CEO of SoFi Technologies, the company reached all-time highs in members added, products added and engagement. The company had approximately 3.5 million total SoFi members as of the end of 2021, up 87% year-over-year, and approximately 500,000 ahead of the company’s stated goal.

The company expects Q1/22 adjusted net revenue to range from $280 million to $285 million, up 30% to 32% year-over-year. For the full 2022-year, the company expects revenue of $1.57 billion (growth of 55% year-over-year), compared to the consensus estimate of $1.45 billion.

You May Also Be Interested In

• Ennis (EBF) Reports In-Line Q1 EPS
• Accenture tumbles 16% on guidance cut; announces Dragos, runZero, NetRise deals
• CarMax (KMX) Tops Q1 EPS by 35c, Beats on Revenue